Students aspiring to maintain their good grades need look no further than their university for inspiration.
For the fourth year in a row, Brock University has sustained an A High credit rating from the Dominion Bond Rating Service (DBRS) Morningstar.
Though the University has steadily maintained the ranking, Josh Tonnos, Brock’s Associate Vice-President, Financial Services and Chief Financial Officer, says this year’s mark was particularly hard-earned.
“Despite significant fiscal challenges facing us, our credit rating has held firm,” he said. “This is an especially noteworthy accomplishment following a five per cent revenue loss from tuition rate and operating grant reductions announced during 2019.”
Beyond the obstacles the University has overcome, Tonnos says the report also reflects the inclusive, tight-knit culture Brock is known for.
“Maintaining our credit rating is important because it provides assurance that we are working together in a sustainable and accountable manner,” said Tonnos.
Though the print on this year’s credit rating is just beginning to dry, he’s already preparing for next year’s evaluation.
“Brock must continue to exercise sound financial planning given the limited flexibility we have on revenue, namely tuition rates and grants,” said Tonnos. “If Brock returns to a period of fiscal operating deficits, we will quickly lose our flexibility to invest in strategic priorities. It is heartening to see how the Brock community continues to work collectively to advance our student experience and research for the long-term benefit of our community.”
To learn more about Brock’s financial information and to view a list of the University’s DBRS Morningstar (previously DBRS) debt rating for the Senior Unsecured Debentures since 2009, visit the University Financial and Budget Information website.